Electronics Manufacturer Rexel Acquires Illinois-Based GCG

GCG operates through two main segments, Custom Engineered Solutions (CES) and Connectivity & Power Solutions (CPS). The company provides specialised wire, cable, and connectivity solutions to customers across data centers, power infrastructure, defense, building systems, water, telecom, and industrial sectors.

Since 2019, GCG has grown its revenue to more than $1.1 billion through organic growth and strategic acquisitions. Its acquisitions include United Wire & Cable, CableMaster, RWL, Paige, and Allied Wire & Cable.

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The deal is expected to strengthen Rexel’s presence in growing markets such as data centers and power infrastructure. It will also add GCG’s engineering-focused distribution model and specialised products to Rexel’s platform.

Audax Private Equity acquired GCG in 2019 through a carve-out from Genuine Parts Company’s Electrical Specialties Group. Since then, Audax has worked with GCG’s management team to grow the business through organic expansion and several acquisitions.

Solomon Partners and J.P. Morgan advised GCG and Audax on the sale. Kirkland & Ellis and Fredrikson & Byron provided legal advice. Guggenheim Securities and Rothschild & Company advised Rexel on the deal, while Sidley Austin LLP provided legal counsel.

"This is an exciting milestone for GCG and a testament to the strength of our business, our culture, and, most importantly, our people," said Glenn Pennycook, Chief Executive Officer of GCG. "With the support of Audax, we've built a differentiated business with strong technical capabilities, deep customer and supplier relationships, and a track record of growth.

About GCG

Headquartered in Chicago, Illinois, GCG is a specialty wire, and cable distribution company serving key markets such as data centers, power building systems, water, telecom, defense and infrastructure.

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